The Australian Dollar has depreciated about 0.44% in value against the US Dollar since yesterday’s trading session. The currency pair breached the monthly S1 at 0.6759 on Thursday.
As for the near future, most likely, the AUD/USD exchange rate might continue to trade south. The potential target for the pair will be near a support level formed by the weekly S1 at 0.6741.
If the support level holds, bullish momentum might come into play during the following trading session.
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